Movers and SHAKERS
Q1 2020: Progressing Slowly but Steady
electrocore Inc is a commercial-stage bioelectronic medicine company with a platform for non-invasive vagus nerve stimulation therapy initially focused on neurology and rheumatology. Its product gammaCore is FDA-cleared for the acute treatment of pain associated with migraine and episodic cluster headache in adults.
Ahu Demir, Ph.D., Biotechnology Research Analyst, Noble Capital Markets, Inc.
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Expanding the market potential of gammaCore. In the quarter, electroCore received the 510(k) clearance from the U.S. Food and Drug Administration (FDA) to expand gammaCore therapy use for the prevention of migraine in adult patients. The company is also evaluating gammaCore for the treatment of Covid-19 symptoms including difficulty in breathing and cytokine storm. These indications represent a large commercial opportunity for the Company.
Q1 2020 financial update. The company reported $0.7338 mm (+9%) net sales in Q1 2020 compared to $0.675 mm in the previous quarter. The company experienced 19% sequential growth in paid months of therapy, rising to 2,611 in the first quarter of 2020 from 2,195 in the fourth quarter of 2019. The gain in adoption of...
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